Killer Mike has launched a banking platform for the Black and Latinx community.
Killer Mike, in conjunction with former Atlanta mayor, Andrew J. Young, and Bounce TV network boss Ryan Glover, has launched a digital banking platform, Greenwood, for the Black and Latinx community.
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“Today, a dollar circulates for 20 days in the white community but only six hours in the Black community,” Mike said in a press release. “Moreover, a Black person is twice as likely as a white person to be denied a mortgage. This lack of fairness in the financial system is why we created Greenwood.”
The company has announced a series of ways working with Greenwood will benefit the community: For starters, Greenwood will donate five meals to families in need every time someone signs up for their service. They will also make donations to the NAACP with every use of a Greenwood debit card. Additionally, Greenwood will give out $10,000 grants for Black and Latinx small business owners every month.
“It’s no secret that traditional banks have failed the Black and Latinx community,” Glover said in the press release. “We needed to create a new financial platform that understands our history and our needs going forward, a banking platform built by us and for us, a platform that helps us build a stronger future for our communities.
“This is our time to take back control of our lives and our financial future. That is why we launched Greenwood, modern banking for the culture.”
Check out Greenwood’s website here.